Saturday, August 11, 2012
Signs of stress in BTL
You will need to regsister with the FT to see this article. The FT has looked at data from the Council Of Mortgage Lenders and found that the proportion of repossessions that were for BTL properties rose from 10 percent in 2009 to 19 percent during the first half of 2012. I'm not sure what to make of this data. Are banks showing less forbearance to BTLers compared with residential households or is the BTL market rental income declining due to arrears? The total repossession rate for BTL (repossessions in total number of mortgages) is a record 0.24 percent hence the headline.